NV Energy rate cut approved

The Public Utilities Commission has approved NV Energy’s petition to lower its electric and gas rates by $83.7 million, effective April 1.

The utility made the request as a result of the federal tax cut bill approved by Congress late last year, which the company said will save it millions in federal taxes.

The average Northern Nevada residential customer’s bill will decrease by $2.81 a month for electric use, a 3.19 percent reduction. For Reno and Washoe Valley customers who get gas service from NV Energy, the reduction will be $1.08 a month or 2.72 percent. Carson City customers get gas service from Southwest Gas.

Southern Nevada electric customers will see a $4.15 per month, 2.86 percent decrease in electric charges.

NV Energy Chief Executive Officer Paul Caudill said, “passing these savings on now is simply the right thing to do rather than waiting until the next general rate reviews.” Those reviews only occur every three years.